VirtualScopics names new CFO

VirtualScopics Inc.’s board of directors has appointed James Groff as chief financial officer, effective immediately, officials said Thursday.

Groff, 44, has been the company’s acting CFO since last August.

“When the board of VirtualScopics asked Jim to assume the role of acting chief financial officer a year ago, he quickly demonstrated his knowledge and abilities, leading us to terminate an executive search for a new chief financial officer at the end of last year,” Chairman Charles Phelps said in a statement.

Groff joined the company eight years ago as an accounting manager, and in February of last year he became controller.

“I have never been more confident in the leadership of VirtualScopics, nor in the direction the company is pursuing,” Groff said in a statement. “I appreciate the support of the company’s board of directors and am proud to be a part of this company’s senior management team.”

He brings to the position more than two decades of managerial accounting experience in manufacturing, banking, and business services industries, officials said.

“I have enjoyed working with Jim in his interim role during the past 10 months,” said Eric Converse, president and CEO, in a statement. “Jim has a deep understanding of VirtualScopics’ business and is leading our current efforts to better understand the life cycles of our backlog to improve our ability to better forecast future revenues and profitability.”

Groff has a bachelor’s degree in accounting from SUNY College at Brockport.